Bowling Portfolio Management LLC Makes New Investment in Cigna Corp (NYSE:CI)
Bowling Portfolio Management LLC bought a new position in shares of Cigna Corp (NYSE:CI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,735 shares of the health services provider’s stock, valued at approximately $972,000.
A number of other large investors also recently added to or reduced their stakes in the business. Gyroscope Capital Management Group LLC grew its position in Cigna by 18.6% during the 3rd quarter. Gyroscope Capital Management Group LLC now owns 4,729 shares of the health services provider’s stock worth $801,000 after purchasing an additional 741 shares during the last quarter. Norway Savings Bank lifted its stake in Cigna by 3.4% during the 3rd quarter. Norway Savings Bank now owns 3,755 shares of the health services provider’s stock valued at $636,000 after acquiring an additional 125 shares during the period. Avantax Advisory Services Inc. acquired a new stake in Cigna during the 3rd quarter valued at approximately $263,000. Community Capital Management Inc. lifted its stake in Cigna by 155.6% during the 3rd quarter. Community Capital Management Inc. now owns 4,600 shares of the health services provider’s stock valued at $779,000 after acquiring an additional 2,800 shares during the period. Finally, Westside Investment Management Inc. lifted its stake in Cigna by 4.3% during the 3rd quarter. Westside Investment Management Inc. now owns 6,680 shares of the health services provider’s stock valued at $1,131,000 after acquiring an additional 277 shares during the period. 88.47% of the stock is currently owned by institutional investors.
In related news, CFO Eric P. Palmer acquired 1,000 shares of Cigna stock in a transaction on Friday, September 11th. The stock was bought at an average cost of $168.77 per share, for a total transaction of $168,770.00. Following the completion of the transaction, the chief financial officer now owns 26,555 shares of the company’s stock, valued at approximately $4,481,687.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nicole S. Jones sold 9,424 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $185.00, for a total transaction of $1,743,440.00. Following the sale, the executive vice president now directly owns 35,409 shares of the company’s stock, valued at approximately $6,550,665. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.
CI opened at $177.90 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a fifty day moving average price of $171.72 and a 200 day moving average price of $182.00. Cigna Corp has a 1 year low of $118.50 and a 1 year high of $224.64. The stock has a market cap of $65.33 billion, a P/E ratio of 12.66, a P/E/G ratio of 0.86 and a beta of 0.67.
Cigna (NYSE:CI) last posted its quarterly earnings data on Thursday, July 30th. The health services provider reported $5.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.15 by $0.66. The company had revenue of $39.27 billion during the quarter, compared to analysts’ expectations of $37.93 billion. Cigna had a net margin of 3.41% and a return on equity of 15.89%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.30 earnings per share. Equities analysts expect that Cigna Corp will post 18.51 EPS for the current year.
Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.
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